ECONOMIC SCAN

PANAJI: The CII- Goa is organizing a two-day certificate workshop on finance for non-finance executives on June 15-16 at Vivanta by Taj, Panaji. The workshop is for executives in key non finance roles, such as technical personnel aspiring for managerial positions. The workshop will cover topics such as understanding accounting, taxation and finance, investing decisions, financial wealth management, debt-equity, etc. NT

RITES Limited IPO opens on June 20

Mumbai: RITES Limited, wholly owned Government Company, a Miniratna (Category – I) Schedule ‘A’ Public Sector Enterprise, is proposing an initial public offering of its Equity Shares which is scheduled to open on June 20, 2018 and close on June 22, 2018 with a Price Band of Rs 180 – Rs.185 per Equity Share of face value of Rs 10 each of the company. Bids can be made for a minimum of 80 Equity Shares and in multiples of 80 Equity Shares thereafter. The initial public offering of 25,200,000 equity shares, an offer for sale by the President of India, acting through the Ministry of Railways, Government of India. The IPO consist of reservation of 1,200,000 Equity Shares for subscription by Eligible Employees and Net Public Offer of 24,000,000 Equity Shares. The Equity Shares of the Company are proposed to be listed on BSE and NSE. For the purposes of the offer, the designated stock exchange shall be NSE.

Nestle to install rain-water harvesting in Goa University

PANAJI: Food and chocolate company, Nestle India, is installing a rain-water harvesting project in Goa University, a senior official said on Tuesday. The roof rain water harvesting project will be on the science block of the university which is the largest building block in the university campus. The official added, that work on the project is already started and it will be ready to commission in a month’s time. The cost of the project is in the region of Rs 10 lakh. Speaking to media, Sanjay Khajuria, senior vice president, corporate affairs, said that, rain-water harvesting is an area where the company has experience having set up projects in the Goa factory. He said that the company is self-sufficient in its water requirements in the state and does not depend on GIDC water. Further both the factories at Ponda and Bicholim are self-sustaining units as they do not use government supplied water and have zero discharge of effluents.